Egypt is a global center for the information technology industry and services based on it, as well as services based on technological innovation, and is home to multinational and world-leading companies specialized in providing business systems outsourcing services and information technology outsourcing worldwide .
Companies are increasingly providing their services and increasing their export operations in different disciplines and fields, including banking, capital markets, insurance, healthcare, retail, education, telecommunications, media, transportation, construction, manufacturing and utilities, and there are 3 reasons that made it Egypt a global hub for outsourcing services.
1- The field of talent and competencies is cost competitive
Egypt has a large and rapidly growing field of talents and competencies qualified to work in Business Systems Outsourcing (BPO) and Information Technology Outsourcing (ITO). There are more than 50 universities and 100 institutes that annually graduate 500 thousand graduates, including 330,000 graduates from study paths related to BPO, and 50 thousand from Graduates from ITO IT Outsourcing tracks.
These graduates can provide advanced processes and knowledge services in more than 20 languages to more than 100 countries. The government is leading a number of initiatives to expand skills and keep pace with the demands of the dynamic labor market through high-value training in diverse technology fields. In addition, Egypt has one of the most competitive operating costs for full-time employees according to IDC.
2- An important geographical location and leading government support
Egypt is characterized by an excellent geographical location as a confluence of the continents of Asia and Africa, and it is connected daily with direct flights to many regions, and it has a time series close to the countries of Central Europe. And throughout Egypt, 18 Internet roads connect Egypt to more than 60 countries with cables with a capacity of 60 terabytes per second, and the infrastructure is being expanded to stay at the forefront of the requirements of the information technology services market.
The Egyptian government has started a structural economic reform program with the support of the International Monetary Fund to unleash the potential of the local economy. The new investment law and the development of free zones also guarantee the necessary support and offer attractive incentives for investment.
Furthermore, ITIDA offers investors comprehensive support and aftercare services, including market analysis, due diligence, talent development, telecommunications, support for business setup and expansion, competitive office space and the appointment of an account manager for each individual investor.
The Egyptian government has embarked on pioneering projects to boost the ICT industry, including spreading science and technology across governorates and creating a collaborative environment for businesses, entrepreneurs and academics through the establishment of specialized technology parks led by Silicon Oasis was developed under the name WE Parks. The Technology Learning Initiative (Future Technology Pioneers), known by its acronym NTL, offers high-level training courses accredited by top universities and industry leaders via online platforms.
The scholarship initiative targets 16,000 students and new university graduates and covers high-value fields such as machine learning, data science and electronic security. “Egypt Make Electronics” is another initiative to position Egypt as a regional and global center for electronics design and manufacturing through a number of programs and incentives.
The field of IT innovation in Egypt is thriving and full of success stories told by small companies generating millions of dollars in investments from Europe, the United States and the Middle East that have successfully moved their services to these regions. This is compelling evidence of Egypt’s ongoing work to develop its business environment for local and foreign investors.
Since its establishment in 2010, the Center for Technology Innovation and Entrepreneurship at the Information Technology Industry Development Authority has served as a catalyst driving innovation and entrepreneurship in the Egyptian ICT industry, enabling Egypt to become a leading regional center for to become technological innovation.
The center works on the principle of venture capital, technology incubators and global technology pioneers in the field of technology to develop strategies, facilitate and encourage innovation and entrepreneurship, and frameworks for intellectual property in the field of information and communication technology and create its applications.